Bitcoin and Ethereum Brace for Market Volatility Amid Options Expiry and Debt Ceiling Concerns.

Bitcoin and Ethereum have remained stable as $3.5 billion worth of options contracts expired this morning. The expiration of Bitcoin options on Deribit had a notional value of $2.26 billion, while Ethereum had $1.25 billion. The low-liquidity market conditions were expected to exacerbate the impact of the options expiration event. The market's attention will now turn toward June, which is currently showing a maximum pain level of $24,000 for Bitcoin and $1,600 for Ethereum. Traders are advised to be careful of more downside on Friday if $25,850 is breached.